Singtel on May 27 reported its FY2021 ended March results, which saw earnings fall 49% y-o-y to $544 million, while operating revenue came in at $15.6 billion, 5% lower y-o-y, reflecting NBN migration revenue tapering off for Optus’ fixed business as migrations neared completion, ongoing impact from Covid-19 and continued carriage erosion.

See: Singtel reports 49% lower earnings for FY21, announces new strategic direction

Singtel’s overall drop in earnings came to no surprise as the group had previously announced a $1.2 billion net exceptional losses from its investments in Amobee and Trustwave, as well as from Optus due its legacy fixed access networks.

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